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Enterprises Face Losses From Trade Secret Thefts

By: Jeremy Kirk, IDG News Service Enterprises are stepping up efforts to counter spying operations that aim to steal their trade secrets, according to a former U.S. Federal Bureau of Investigation agent who now works for Xerox. Companies such as Wal-Mart, DirecTV and Motorola have in recent years been victimized by employees or others who stole sensitive data, said David Drab, a principal in Xerox's information and content security services section. Drab spent 27 years in the FBI fighting organized crime and economic espionage. A study by PricewaterhouseCoopers found that economic espionage costs the world's top 1,000 companies £22.4 billion (US$34.7 billion) annually, Drab said. Another study by the Society for Competitive Intelligence Professionals found companies spent $2 billion on spying activities in 2004. To read the rest of this article from PC World please click here.

Full post as published by The Trade Secrets Vault on October 29, 2008 (boomark / email).